REG - Pinewood Tech Gp PLC - Share Consolidation

Jefferies FinancialAnnouncement

23/04/2024 08:15

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RNS Number : 5684L  Pinewood Technologies Group PLC  23 April 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

FOR IMMEDIATE RELEASE

23 April 2024

 

Pinewood Technologies Group PLC ("Pinewood" or the "Company")

 

Share Consolidation, Admission of New Ordinary Shares, Total Voting Rights and
payment of Special Dividend

The Board of Pinewood announces that, following approval of the Share
Consolidation at the General Meeting of the Company held on 22 April 2024,
applications were made to the FCA and the London Stock Exchange for the Share
Consolidation to be reflected on the Official List. It is expected that
87,115,622 ordinary shares of £1.00 each in the capital of the Company will
be admitted to trading and dealings will commence on the London Stock Exchange
at 8:00 a.m. today.

As part of the Share Consolidation, the Existing Ordinary Shares have been
consolidated such that Shareholders will receive 1 New Ordinary Share in
substitution for every 20 Existing Ordinary Shares held. Shareholders will
hold the same proportion of the Company's issued share capital as they did
immediately prior to the implementation of the Share Consolidation, subject
only to adjustments for fractional entitlements.

As at 23 April 2024, the Company's issued ordinary share capital consists of
87,115,622 ordinary shares of £1.00 each. The voting rights attached to the
ordinary shares are on the basis of one vote per share, representing total
voting rights of 87,115,622. There are no shares held in treasury.

The above figure (87,115,622) may be used by Shareholders as the denominator
for calculations by which they can determine if they are required to notify
their interest in, or a change to their interest in, the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

CREST accounts will be credited with New Ordinary Shares today. The Board
expects share certificates in respect of the New Ordinary Shares to be
despatched on 1 May 2024 and cheques in respect of any cash proceeds from the
sale of fractions of Existing Ordinary Shares to be despatched to the relevant
Shareholders on 7 May 2024. Further details of how fractional entitlements are
to be dealt with are set out in the explanatory circular of the Company dated
5 April 2024 (the "Circular").

Following approval of the Special Dividend at the General Meeting of the
Company held on 22 April 2024, the Board of Pinewood expects the Special
Dividend to be paid on 7 May 2024.

Capitalised terms used but not otherwise defined in this announcement have the
same meaning given to them in the Circular.

Enquiries:

 

 Jefferies International Limited (Financial Adviser and Joint Corporate Broker)  +44 (0) 20 7029 8000
 Philip Noblet
 Thomas Bective
 Jordan Cameron

 Headland Consultancy (PR & Communications)                                      +44 (0) 20 3805 4822
 Henry Wallers
 Jack Gault

 

IMPORTANT NOTICE

Jefferies International Limited ("Jefferies"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is
acting solely for the Company, and for no-one else, as broker in connection
with the matters referred to in this announcement and will not be responsible
to anyone other than the Company for providing the protections afforded to its
clients or for providing advice to any other person in relation to the content
of this announcement or any other matters described in this announcement. To
the fullest extent permitted by law, neither Jefferies nor any of its
affiliates assumes any responsibility whatsoever for or makes any
representation or warranty express or implied, in relation to the contents of
this announcement, including its accuracy, completeness or verification or for
any other statement made or purported to be made by it, or on its behalf and
nothing contained in this announcement is, or shall be, relied upon as a
promise or representation in this respect whether as to the past, present or
future, in connection with the Company, the Group, or the matters referred to
in this announcement. Jefferies and its affiliates accordingly disclaims to
the fullest extent permitted by law all and any duty, responsibility and
liability whether arising in tort, contract or otherwise which it might
otherwise be found to have in respect of this announcement or any such
statement or otherwise.

 

This announcement is not intended to, and does not constitute, or form part
of, any offer to sell or an invitation to purchase or subscribe for any
securities in any jurisdiction.

 

This announcement has been prepared for the purpose of complying with the
applicable law and regulation of the United Kingdom and information
disclosed may not be the same as that which would have been disclosed if this
announcement has been prepared in accordance with the laws and regulations of
jurisdictions outside the United Kingdom.

 

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